John Rubino's Contributions

Another Reason Why Low Interest Rates and QE are Here to Stay

It’s easy to understand the attraction of things like adjustable-rate mortgages and teaser-rate credit cards. They give you cheap money up front and a few years of breathing room in which to raise your cash flow to cover the eventual higher payments.

News Flash: Economists Clueless

Economist Robert J. Samuelson just published an unintentionally funny article in Capital Journal on the bemusement today’s economists feel after being wrong about virtually everything for the past decade.

The Long Wave Versus the Printing Press: Another 2008?

If the Long Wave is indeed winning, we’re about to discover the true meaning of an “unlimited” printing press.

Is the Bubble Back?

The latest Flow of Funds just came out and, well, the bubble seems to be back. “The data,” writes Doug Noland, “have again turned more interesting.”

Just Be Your Own Central Bank

The past year has tested the worldview, and sometimes the sanity, of precious metals investors. But it has also given us another chance to load up at what might turn out to be dirt-cheap prices...

“Everybody in the Industry Knows the US Doesn’t Have the Gold”

In this week’s talk with National Numismatics’ Tom Cloud, he explains why Germany’s gold repatriation is just the beginning, the US Mint’s silver shortage will continue, and the big money is right about precious metals.

Has The Debt Jubilee Already Started?

There are three fairly radical ideas floating around the monetary policy world right now. The first is economist Ellen Brown’s belief that governments should stop borrowing money and simply create the currency they need, thus bypassing central banks and government bond markets.

The GAAP In the Debt Debate

There’s a fascinating (and enraging to both sides) argument going on over whether debt really matters. On one side are the Austrian-inspired hard money advocates who see excessive borrowing as even worse for governments than it is for individuals and families.

Here Comes the Debt Ceiling

The fiscal cliff was always going to end with a whimper because that was the obvious path of least resistance. In the end, simply avoiding big tax increases and spending cuts while adding a few more trillion to the coming decade’s deficit was rewarded by the markets with a huge rally.

Wholesale Gold Inventories Evaporating

In this week’s interview with gold dealer Tom Cloud of National Numismatic Associates, we cover one very timely topic – the sudden decline in gold inventories – and one perennial question – how can an individual put physical precious metals in an IRA.

Welcome to the Currency War, Part 5

The Dollar Gets Serious Competition

Not so long ago the dollar was the world’s only reserve currency. Everything else was one (or several) steps down in terms of safety and liquidity, and major financial institutions acted accordingly, accumulating dollars for the risk-free parts of their portfolios.

Nullification Goes Mainstream

States Defy Washington on Drugs and Health Care

Most non-libertarians will like some of these nullification moves and abhor others. Conservatives hate the idea of legal weed, for instance, and liberals can’t tolerate states running their own health care systems.

Now We Can Stop Paying Attention

Two years, billions of dollars worth of political ads, and a nearly infinite number of platitudes and lies later, the election is finally over and we’re…back where we started, with a divided government run by the same people, likely to pursue the same policies...

Secessionist Movements: Another Layer of Complexity

One of the lessons of medieval history (I’m listening to one of those recorded lecture series on the subject this week) is that Europe wasn’t always made up of today’s familiar countries.

Is a Debt Jubilee the Next Big Meme?

The idea of a “debt jubilee” — that is, a wide-spread forgiveness of debt as a way to reset the US financial system — has been bouncing around for a while. But it hasn’t gained mainstream traction because it seems, at first glance, to be too simplistic to be worth serious thought.

China, Russia, and the End of the Petrodollar

Say you’re an up-and-coming superpower wannabe with dreams of dominating your neighbors and intimidating everyone else. Your ambition is understandable; rising nations always join the “great game”, both for their own enrichment and in defense against other big players.

Fed Policy Is Working - Moral Hazard Is Back

A near-death experience isn’t something one gets over right away. So it’s no surprise that the US leveraged speculating community was a tad more cautious than usual for a while. Real estate investors, for instance, still bought houses, but only on very favorable terms where rental income would clearly exceed expenses.

When Entrepreneurs Can’t Retire

For most small business people, the ideal life goes pretty much like this: a few years of all-consuming obsession to get set up, followed by a few decades of 12-hour days to build a reputation and client base sufficient to make the business valuable.

The Sub-Zero Club Admits a New Member

Over the past few months Germany, Switzerland and the US have sold bonds with negative yields, meaning that investors are in effect paying those countries to safeguard their capital.

Welcome to the Currency War, Part 2: Massive Euro Devaluation

As everyone knows by now, Greece, Spain and the rest of the PIIGS countries can’t fix their economies because they can’t devalue. If they were still using their old national fiat currencies, so goes the conventional wisdom, they could just mark them down by 30% and instantly see their exports surge and their deficits shrink.

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